father discussing irrevocable life insurance trust

5 Reasons for an Irrevocable Life Insurance Trust

In Massachusetts, trusts help many people protect their assets and leave a financial legacy for their heirs. When deciding whether an irrevocable life insurance trust is right for you, it’s a good idea to consult an experienced Massachusetts estate planning attorney. After becoming familiar with your unique circumstances, a knowledgeable trust attorney will be able to…

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Will vs. Trust: What’s the Difference?

Wills and trusts are both important documents for doing your Massachusetts estate plan. They serve different purposes but they can work together to create a comprehensive estate plan. These are the main differences between a Massachusetts living trust and a last will and testament: Whether probate is involved What assets and legal affairs are affected…

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What to Do if You’re a Trustee

So, you’re a trustee of a Massachusetts trust. On one hand, the good news is the person who created the trust respects you and finds you to be a trustworthy person. On the other hand, you have a mighty responsibility to manage that trust. But don’t worry, because with the right information and guidance from…

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7 Reasons Why a Trust May Be Right for You

Some people have the misconception that a Massachusestts trust is only for the uber-wealthy. The truth is that a living trust can work really well for almost everyone who wants to protect their assets and control the distribution of their estate. What exactly is a living trust? It’s a legal document that takes title to…

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The Flexibility of Living Trusts

What is a Trust? A living trust is a legal document that can hold legal title to your assets. Think of it like a box where you can hold your assets for your benefit during your lifetime, and thereafter for the benefit of another person (beneficiary). You can manage the trust yourself or choose someone…

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How to Be a Good Trustee

When someone creates a trust, they must designate a trustee. The trustee is responsible for managing the trust either when the trust is formed or in the future, depending on the type of trust. Many people naturally consider giving a family member or close friend this responsibility. The first thing you have to do to…

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